By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Benchmark indices traded positive for the fifth consecutive day supported by banking and auto stocks.
Nifty went up by 1.27% or 140.05 points and closed at 11,162.25 successfully crossing the 11,100 mark in today’s trading session. On the other hand, S&P BSE Sensex rose by 1.37% or 511.34 points and closed at 37,930.33.
Around 1427 shares advanced, 1223 shares declined, while 155 shares remained unchanged in today’s trading session.
Power Grid Corporation (6.42%), IOC (5.66%), BPCL (5.43%), Eicher Motors (5.33%), and Maruti Suzuki (4.22%) were among top Nifty gainers, while Bajaj Finance (4.00%), Bajaj Finserv (3.52%), Britannia (2.38%), Bharti Infratel (1.75%), and Cipla (1.64%) were among top Nifty losers.
Sectoral indices showed a mixed trend where bank, energy, auto, metal and infra sectors traded positive, while FMCG and Pharma stocks traded lower. BSE Midcap ended marginally lower by 0.22% while BSE Smallcap went up by 0.24%.
SBI Life Insurance
Stocks of SBI Life Insurance Company went up by 4.39% and traded at Rs.892.00 as the company’s net profit rose by 5.1% in the first quarter of the FY21.
The company reported a net loss at Rs.3.6 crore while its revenue declined by 64.8% during the first quarter of FY21. Despite this, the stocks of the company went up by 2.37% and traded at Rs.86.45.
Stocks of the company went down by 4.00% and traded at Rs.3304.00 after the company’s consolidated net profit declined by 19% while the company’s net interest income was up by 12%.
SBI Cards and Payment Services
Stocks of SBI Cards and Payment Services went up by 3.26% and traded at Rs.775.50 after the company reported gains for the first quarter of FY21. The net profit of the company was up by 14% while the credit cards increased by 20%.
Den Networks Limited
The company reported higher profits for the first quarter of FY21 despite lower revenues during the period. The revenue of the company declined by 3.8% while the EBITDA (Earning before interest, tax, depreciation and amortization) went up by 55%. As a result, the stocks of the company went up by 9.98% and traded at Rs.109.60.
Indian rupee traded higher despite erasing some of the intraday gains and closed at Rs.74.83 against the US Dollar amid positive domestic equity markets.
Spot gold was up by 0.1% at USD 1817.23 per ounce hovering near a nine-year peak in today’s session amid the rising number of coronavirus cases.
Global Markets trade positive
The COVID-19 vaccine’s early stage human trials by the Oxford University show that it is safe, well-tolerated, and immunogenic. The positive news on COVID-19 vaccine trials resulted in global market trading higher as it induced positive sentiments among investors. Nasdaq went up by 2.51%, Hang Seng rose by 2.31%, Nikkei 225 surged by 0.73%, FTSE 100 went up by 0.55% while FTSE MIB went up by 2.00% in today’s trading session.